There are quite a little amount of things that people fail to put into consideration whenever they want to apply for probate and this is the sole reason why it takes them a lot of time. Getting a grant of probate would surely take months but this article will tell you what you should do in order to shorten the time spent on getting a probate and how you should do it.
Before we dive into how an individual can easily apply for probate, lets talk about what probate is?
What is probate?
Probate is a process designed to determine the validity of a well, and settle the estate of a deceased. Applying for probate gives you access to an individual’s estate if he or she had a Will and you’re the executor of that very Will. With a grant of probate, you are permitted to distribute assets, sell properties, close accounts and also prove to the Land Registry, banks and other organizations that you have the authority to deal with an individual’s estate according to his or her Will.
The probate process can be completed in just 3 months but before you jump into conclusions, here are 3 questions you should ask.
- What do I need before applying for probate?
- How do I easily apply for probate?
- How would I receive the grant of probate?
What do I need before applying for probate?
You can either apply for probate online with the following:
- The original Will
- The death certificate
- A completed inheritance tax form.
Or you can apply by sending the following necessary paper forms to your local probate office:
- The original Will and 3 copies
- The death certificate
- A completed inheritance tax form
- PA4P probate application form.
How do I easily apply for probate?
1. You need to register the death first:
You would surely need a death certificate before applying for probate and this can be done easily at the registry office where the individual died. That said, you should also remember that some hospitals do have their own registry office. This should make your first step faster and also note that it should be done within 5 days after the death has been confirmed.
2. Determine the complexity of the estate by valuing it:
Another thing you should take note of is the value of the estate you are dealing with so that you can easily decide about everything concerning inheritance tax. Decisions should only be made after you’ve understood the assets of the deceased and the easiest way to do this is to make a list of all the deceased’s joint assets, possessions, gifts in the last seven years and then estimate the value of them. You may need to contact the banks and other organisations to find out the value of each asset in the estate.
3. Fill all the necessary probate applications:
Once you have valued the estate then you should be ready to fill the probate application. Everything concerning this has already been stated in the “what do I need before applying for probate” paragraph above.
4. Organize the inheritance tax and pay the probate fees:
Most times, the inheritance tax is based on the total valuation of the estate you’re dealing with and they vary based on several factors. However, if you need to know more concerning this, then you should contact your local probate office. Same applies to the payment of the probate fees but one thing you should know is that in order to speed up the process of settling the will, you would need more copies of the probate document so that you can send them to several organizations at the same period.
How would I receive the grant of probate?
Once your application has been submitted to the probate registry, it should take from three to six weeks before it gets approved and after the approval, the grant of probate will be sent out to you in the post.
Need an estate planning attorney?
If you want to plan your estate, and you need the services of an experienced estate planning attorney, please, don’t hesitate to contact us. Also, if you need help with updating your estate plan, you can contact our office as well. We boast of competent estate planning attorney who can help in creating an estate plan that suits your needs.